Investee Company – Nuova Bianchi SpA (Italy)
Investee Company Business Type – Manufactures vending machines
Type of Financing – Expansion
Equity Providers – GE Equity
Equity Leader (Individual) -Luca Giacometti (managing director, GE Equity, Italy) and Andrea Nappa from GE Equity
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – $9 million
Total Deal Value – $9 million
Other Advisors -Ernst & Young as accounting/fiscal auditors (GE Equity) &Ashurst Morris Crisp as legal advisor for the whole deal (both parties)
Comments – Nuova Bianchi, a leading Italian vending machine manufacturer, has raised $9 million in financing from GE Equity. GE Equity will take a 25% stake in the company, which plans to use the financing to accelerate its growth in international markets.
The company has been active in the vending machine sector since 1969 and has a sales network covering the main countries of the European Union as well as central and Eastern Europe, China and South America. It intends to continue international expansion through acquisitions and setting up subsidiaries.
European managing director of GE Equity commented: “We were attracted to Nuova Bianchi by the company’s outstanding results and impressive growth rate: sales have grown from Lira9 billion in 1992 to the current figure of Lira90 billion (CAGR of 29%), with reliable, steady profitability (Lira9.5 billion net profit in 2000). We look forward to working with the strong management team to ensure that we deliver real value beyond this capital investment and establish a major force in the growing vending machine sector.”